HARD vs. AGGA

Last updated Aug 3, 2026

HARD (Simplify Commodities Strategy No K-1 ETF) and AGGA (Astoria Dynamic Core US Fixed Income ETF) are both exchange-traded funds - HARD is a Commodities fund actively managed by Simplify, while AGGA is a Multisector Bonds fund actively managed by Astoria. Both are actively managed. Over the past year, HARD returned 16.64% vs 2.58% for AGGA. Their -0.26 correlation means they have often moved in opposite directions in the past. HARD charges 0.78%/yr vs 0.55%/yr for AGGA.

Performance

HARD vs. AGGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Commodities Strategy No K-1 ETF (HARD) and Astoria Dynamic Core US Fixed Income ETF (AGGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HARD achieves a 8.92% return, which is significantly higher than AGGA's 0.39% return.

HARD

• 1D: 0.65%
• 1M: 7.37%
• 6M: 3.84%
• YTD: 8.92%
• 1Y: 16.64%
• 3Y*: 10.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.55%

AGGA

• 1D: -0.28%
• 1M: -0.79%
• 6M: 0.07%
• YTD: 0.39%
• 1Y: 2.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AGGA Astoria Dynamic Core US Fixed Income ETF	$225.36K	$302.31K	$395.65K
HARD Simplify Commodities Strategy No K-1 ETF	$916.88K	$1.12M	$1.59M

HARD vs. AGGA - Yearly Performance Comparison

	2026 (YTD)	2025
HARD Simplify Commodities Strategy No K-1 ETF	8.92%	7.93%
AGGA Astoria Dynamic Core US Fixed Income ETF	0.39%	4.49%

Correlation

The correlation between HARD and AGGA is -0.28, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.28
Correlation (All Time) Calculated using the full available price history since May 1, 2025	-0.26

Return for Risk

HARD vs. AGGA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HARD

HARD Risk / Return Rank: 25
HARD Sharpe Ratio Rank: 25
HARD Sortino Ratio Rank: 25
HARD Omega Ratio Rank: 25
HARD Calmar Ratio Rank: 25
HARD Martin Ratio Rank: 24

AGGA

AGGA Risk / Return Rank: 58
AGGA Sharpe Ratio Rank: 57
AGGA Sortino Ratio Rank: 59
AGGA Omega Ratio Rank: 57
AGGA Calmar Ratio Rank: 57
AGGA Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HARD vs. AGGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Commodities Strategy No K-1 ETF (HARD) and Astoria Dynamic Core US Fixed Income ETF (AGGA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HARD	AGGA	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.38	-0.79
Sortino ratio: Return per unit of downside risk	0.91	2.01	-1.10
Omega ratio: Gain probability vs. loss probability	1.12	1.25	-0.14
Calmar ratio: Return relative to maximum drawdown	0.75	2.03	-1.29
Martin ratio: Return relative to average drawdown	1.84	7.50	-5.65

HARD vs. AGGA - Sharpe Ratio Comparison

The current HARD Sharpe Ratio is 0.58, which is lower than the AGGA Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of HARD and AGGA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HARD vs. AGGA - Drawdown Comparison

The maximum HARD drawdown since its inception was -20.81%, which is greater than AGGA's maximum drawdown of -1.47%. Use the drawdown chart below to compare losses from any high point for HARD and AGGA.

Drawdown Indicators

	HARD	AGGA	Difference
Max Drawdown Largest peak-to-trough decline	-20.81%	-1.47%	-19.34%
Max Drawdown (1Y) Largest decline over 1 year	-20.81%	-1.47%	-19.34%
Max Drawdown (3Y) Largest decline over 3 years	-20.81%	—	—
Current Drawdown Current decline from peak	-14.97%	-0.96%	-14.01%
Average Drawdown Average peak-to-trough decline	-6.00%	-0.23%	-5.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.43%	0.40%	+8.03%

Volatility

HARD vs. AGGA - Volatility Comparison

Simplify Commodities Strategy No K-1 ETF (HARD) has a higher volatility of 8.43% compared to Astoria Dynamic Core US Fixed Income ETF (AGGA) at 0.65%. This indicates that HARD's price experiences larger fluctuations and is considered to be riskier than AGGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HARD	AGGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	0.65%	+7.78%
Volatility (6M) Calculated over the trailing 6-month period	22.57%	1.80%	+20.77%
Volatility (1Y) Calculated over the trailing 1-year period	26.89%	2.17%	+24.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.32%	2.24%	+17.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	2.24%	+17.08%

HARD vs. AGGA - Expense Ratio Comparison

HARD has a 0.78% expense ratio, which is higher than AGGA's 0.55% expense ratio.

Dividends

HARD vs. AGGA - Dividend Comparison

HARD's dividend yield for the trailing twelve months is around 2.94%, less than AGGA's 4.25% yield.

Position	TTM	2025	2024	2023
AGGA Astoria Dynamic Core US Fixed Income ETF	4.25%	2.81%	0.00%	0.00%
HARD Simplify Commodities Strategy No K-1 ETF	2.94%	2.36%	3.51%	1.95%

Frequently Asked Questions

Can I hold both HARD and AGGA in my portfolio?

HARD and AGGA have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HARD or AGGA?

HARD has higher volatility (8.43%) compared to AGGA (0.65%). In terms of maximum drawdown, HARD dropped -20.81% vs AGGA's -1.47%.

Which ETF is better, HARD or AGGA?

On 1-year performance, HARD leads with 16.64% vs 2.58% for AGGA. On fees, AGGA is cheaper at 0.55% per year. On volatility, AGGA has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HARD or AGGA?

Over the 1-year period, HARD has performed better with a 16.64% return vs 2.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HARD or AGGA?

AGGA is cheaper with a 0.55% expense ratio, compared with 0.78% for HARD.

Which ETF pays a higher dividend yield, HARD or AGGA?

AGGA has the higher dividend yield at 4.25%, compared with 2.94% for HARD.

What is the main difference between HARD and AGGA?

HARD is categorized as Commodities, while AGGA is Multisector Bonds. They also come from different issuers: Simplify and Astoria. Their fees differ too: 0.78% for HARD and 0.55% for AGGA.

Which has better risk-adjusted returns?

AGGA currently has the higher Sharpe Ratio (1.38 vs 0.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.